Metso announces Q1 2014 results

Despite continued weakness in investment in mining equipment and projects, Metso believes that demand seems to be bottoming out, the company said in its Q1 results statement, calling this a “positive development”. Meanwhile, demand for its mining services continued to be strong.

Orders received by Metso’s mining and construction business segments in Q1 were down 21% year-on-year to € 624 million. Within this, orders from the company’s mining customers were down 29%. More positively, there were no major order cancellations or postponements during the period. Overall operating profit was € 64 million.

Services order intake declined 12% year-on-year but still accounted for 66% of the segment’s orders received.

The order backlog in mining and construction at the end of March was € 1.5 billion, was 3% lower than at the end of 2013. The company expects 81% of the order backlog to be this year.

Adapted from press release by Jonathan Rowland

Read the article online at: https://www.worldcoal.com/mining/24042014/metso_announces_q1_2014_results_coal746/